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! n6 I! n4 v% t. a% oBelow is an Interesting article I found, which says that.....Do not # g' N0 P8 z1 K- C* F
expect much from Crude Oil producers and future is not with the
3 M: T' W) X. r" H& F# `8 Lcompanies producing Jet fuels but Biofuels. Also no wonder if some of
& L. ]+ E7 P8 j$ R4 d2 r8 f1 Ithese oil producer will go bankrupt or out of the business even if
) E$ \! y, t# ^6 Xcrude prices improves. This implies also to good names such as Shell, % X& ^- y/ ~ w# g* z) \
EXXON, BG, BP, Cheveron ....xyz.. oils + e; w* s* ^( e3 f* m: z, I
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Recently OPEC reduced crude oil production twice over just a few 0 I( _, b7 V$ L& R) ~/ a
months. There are three wars going on in Gaza, Iraq and Afghandistan.
. m* u; `# y0 q# tA year ago these things would have spiked the price of crude oil by at
; x- b2 d# W2 [. u3 B: Xleast $50.00 per barrel. Today, oil price declined by a record amount. $ o2 H+ \5 `7 b A: \
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There are several reasons the price of oil is decreasing in the face " y% l: H* {) L; \ `0 m
of so much news. These reasons are: ; x0 C9 d* [1 q# V7 V3 ]$ {3 i- L
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1. New oil has been found in Canada, Montana, North & South Dakota and
3 B3 D( }) ~' P, Nin the ocean near Brazil. Each of these oil fields has more oil than 9 [. m6 L0 t: c% T' {
Arabia.
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- i3 h+ A3 X5 G2. New natural gas has been found in Pennsylvania and West Virginia.
& E- T; w1 P3 S: v( D* Y: LThis is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is , v: e1 e2 y3 r7 M* n. p
being used to double their output. * F0 G' g4 R# Y* a: Q0 X
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) y! I5 y" M$ A) s& Z* i4. Production of bio-fuels is beginning to reach critical mass. Bio
$ C; v, j9 l2 b: a% ?fuel is being produced from many plants and algae. The production 1 K/ b% a) G4 Q! K
potential per acre in some cases is astounding. Many countries are % V% o9 |# F- H# s
racing to produce bio fuels. $ D7 {) X* W/ O' f! q' o) k `
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5. Virtually every restaurant in the US and all food processing plants
8 D& e2 R$ K0 U8 i7 e2 r4 Yare now selling their used oil to bio-diesel producers. Every pork, - E: c& I1 O9 Z3 M
cattle, turkey and chicken processing plant will soon sell their fat ! B4 p4 r, j; N# z( C! O6 ?5 p
to bio-diesel producers. One pork processing plant in Oklahoma is
; B# |% e7 H! N$ J: pproducing 30,000 gallons of bio-diesel per day from pork fat. 6 L H* L, s T+ d( h$ O8 i- D
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% F" K8 e4 I3 v; E; n3 `. |& i6. There are 99 nuclear reactors in various stages of planning and
6 D: v. m' f$ `9 o4 h7 c* t( W" Sconstruction around the world at this time. Several hundred more are 0 N' k% {$ u$ q; V) R4 F7 P4 T
expected to be built in the future. Much of the energy they produce
1 s& Y* g% G2 G+ }2 ^& _1 ^will replace oil.
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7. Every company in any form of transportaion business is replacing 0 l# r- J7 b/ Z! [ r1 }" \
older equipment such as trucks, airplanes, train engines, ships, etc.
& f }8 l. r- x1 Dwith new more fuel efficient equipment. Airlines and railway companies 3 K8 S- h9 {) q5 u6 n
are experiencing 20% to 25% better fuel econony with the new
8 P5 p4 S! \/ P& H3 Eequipment.
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- y6 `- A. ~7 ?9 P9 b" ?Airlines are flying airplanes with bio-fuel. They are finding the bio- , o4 o* S" R5 L$ [
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to ) C4 _4 x3 b* N! ~% y- [8 G2 @
capture methane gas from landfills. This is a huge source of gas 0 c7 Y, {$ q# Y4 R+ |' q
available at very little cost or risk. The gas is displacing crude
% [8 ^- Y6 p- Y: E4 T3 m3 aoil. * M2 z [3 j# y, r' x# o! T
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* _7 Z& `6 k( |7 ?9. Coal is being transformed into a clean burning liquid fuel. The CO2 |( X* C: T5 D. J
produced as a byproduct is sold to oil companies for injection into
- L- x% k2 j; `! ~% K' C: joil wells.
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* d# [4 p, e2 N7 V& y0 N1 @10. Solar, wind and ocean energy is displacing oil as an energy $ m |* C6 C5 @( _% ]
source. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the 0 n7 S0 p% `, W1 O/ K/ y( f+ _
price of crude oil but the sum of all of them together is world
8 [: w5 @/ H1 d/ j! Wchanging. The important thing is that OPEC no longer has the ability
3 m6 m% h5 {/ ]- }/ E- ?& tto control oil prices.
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With the above scenario, I still believe that there are under ! }" O! t' U# @8 T& q
performed OIL companies and probably they are yet to get the justified 7 H, K2 I( l( i& M6 D. |' p: y1 \- n
value .....
7 U/ s; ~. L( X' }5 }% T$ t4 QIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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1 [% _- o+ a0 L* f) aThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
( f& {6 p3 p. N* Z$ V8 D2009 ... FYI-Only |
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